[Adopted 8-9-1993; amended in its entirety 8-12-1996 by Ord. No. 96-16]
There is hereby created within the financial accounts of the Town of Stratford two enterprise funds known as the "Short Beach Golf Course Fund" and the "Short Beach Miniature Golf Course Fund." The purpose of said funds is to account financially for the operations of the Short Beach Golf Course and the Short Beach Miniature Golf Course. It is the intent of the Town Council that the costs (expenses, including depreciation) of operating each facility shall be recovered primarily through user charges.
The Short Beach Park Commission shall submit to the Town Council for approval annual budgets for the Short Beach Golf Course Fund and the Short Beach Miniature Golf Course Fund, setting forth the proposed revenues and expenditures.
The financial statements disclosing all activities of the Short Beach Golf Course and the Short Beach Miniature Golf Course for each fiscal year shall be a part of the Town of Stratford's annual financial report. All financial activities of the Short Beach Golf Course Fund and the Short Beach Miniature Golf Course Fund shall be conducted in accordance with pronouncements and/or regulations of the Government Accounting Standards Board (GASB).